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Dec 31, 2012
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. >>> on meet the press president obama accused republicans of protecting the wealthiest americans from tax hikes. >> reporter: the president has asked his plan, which includes tax hikes, to be given an up or down vote. >>> i'm watching your money. asian stock markets mostly closed or traded lower today on diminished hopes u.s. lawmakers can come to an agreement on the fiscal cliff. wall street has a full trading day today. checking the numbers for you the dow starts this morning at 12938. that's right below 13,000 after selling off 158 points on friday. of course over concerns about the fiscal cliff. the nasdaq lost more than 25 points and the s & p 500 was off by around 16 points. >>> real estate in ocean city is moving off the market at a very brisk pace right now. numbers from the coastal association of realtors shows a 25% reduction in the inventory of unsold condos in ocean city. that includes multi-million dollar properties. the data show contracts are up 14% year to date with settlements up 6%. inventory increased sharply from march through november after being flat from last de
. >>> on meet the press president obama accused republicans of protecting the wealthiest americans from tax hikes. >> reporter: the president has asked his plan, which includes tax hikes, to be given an up or down vote. >>> i'm watching your money. asian stock markets mostly closed or traded lower today on diminished hopes u.s. lawmakers can come to an agreement on the fiscal cliff. wall street has a full trading day today. checking the numbers for you the dow starts...
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Dec 31, 2012
12/12
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KGO
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. >> regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up. that would hurt our economy badly. we can get that done. >> reporter: president obama called for immediate action but there was no vote in the senate. >> we're going to come in at 11:00 a.m. tomorrow morning, and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: minority leader mitch mcconnell called vice president biden in for help. biden is now said to be playing a direct role. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the courage to close the deal. >> reporter: if congress doesn't act soon, drastic spending cuts will go into effect and taxes go up for everyone. the tax impact for the average american family, more than $3,400. senate leaders continued to work on the stop gap bill. but sticking points remain. >> there's still significant difference between the two sides. but negotiations continue. >> reporter
. >> regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up. that would hurt our economy badly. we can get that done. >> reporter: president obama called for immediate action but there was no vote in the senate. >> we're going to come in at 11:00 a.m. tomorrow morning, and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: minority leader mitch mcconnell...
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Dec 31, 2012
12/12
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of the extension of the tax cuts and also unemployment benefits, which is very important. if the unemployment benefits cease after the first of january, that has an immediate impact on expenditure in the u.s. on about 2 million unemployed people. i think he is going to try to put together a skeleton deal to at least bridge the gap while negotiations continue. u.s. secretary of state -- >> u.s. secretary of state hillary clinton has been taken to hospital. she suffered a concussion earlier this month. she is being treated with blood thinning medication and she will be monitored for the next 48 hours. venezuela's ailing president has had a new health setback, suffering complications after surgery. vice president nicolas maduro made an unexpected trip to the capital of cuba, where president chavez is receiving cancer treatment. >> 19 days after undergoing surgery, president chavez's health continues to be frail. it is a process not without risk. we have decided to stay in heaven for the next few hours, accompanying the commander and his- -- in havana for the next few hours, a
of the extension of the tax cuts and also unemployment benefits, which is very important. if the unemployment benefits cease after the first of january, that has an immediate impact on expenditure in the u.s. on about 2 million unemployed people. i think he is going to try to put together a skeleton deal to at least bridge the gap while negotiations continue. u.s. secretary of state -- >> u.s. secretary of state hillary clinton has been taken to hospital. she suffered a concussion earlier...
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Jan 1, 2013
01/13
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LINKTV
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is to stop taxes from going up for middle-class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and republicans in congress have to get this done, but they are not there yet. they are close, but they are not there yet, and one thing we can count on with respect to this congress, if there is even one second left before you have to do what you need to do, they will use that second. >> it is too bad he does not spend as much time solving problems as he does with campaigns and pep rallies. i will say i am very disappointed with what the president had to say. i want to go on record to say that it is unacceptable to pay for the sequestered revenues. >> we are joined live from washington, d.c. if this deal is so close, why has congress not signed off on it? >> well, you always have to remember there are two houses in congress, and both of them have to sign off on this one, and there is not even a bill to sign off on. the people's house, they went home for their new year's eve. they are gone. john boehner, the speaker, said
is to stop taxes from going up for middle-class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and republicans in congress have to get this done, but they are not there yet. they are close, but they are not there yet, and one thing we can count on with respect to this congress, if there is even one second left before you have to do what you need to do, they will use that second. >> it is too bad he does not spend as much time solving problems...
WHUT (Howard University Television)
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Dec 31, 2012
12/12
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WHUT
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president obama believes it is time for the wealthiest americans to pay more in taxes. he has made that part of his negotiating position. he criticized republicans for resisting these tax increases. >> they said the biggest party is making sure we deal with the deficit and a serious way. the way they're beating is their only priority is making sure that tax breaks for the wealthiest americans are protected. that seems to be their only overriding unifying theme. >> the republican party argues it is ready to deal. it is the president and democrats were not. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest, frankly, their courage to close the deal. i want everyone to know i am willing to get this done. but i need a dance partner. >> if republicans and democrats don't join the dance soon, america will enter the new year and a state of heightened political and economic uncertainty. congress can choose to put a stop to this as soon as it likes. the news americans are wondering when it will do so.
president obama believes it is time for the wealthiest americans to pay more in taxes. he has made that part of his negotiating position. he criticized republicans for resisting these tax increases. >> they said the biggest party is making sure we deal with the deficit and a serious way. the way they're beating is their only priority is making sure that tax breaks for the wealthiest americans are protected. that seems to be their only overriding unifying theme. >> the republican...
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Dec 31, 2012
12/12
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president obama says he is modestly optimistic that negotiations could prevent these huge tax hikes and spending cuts from kicking in. >> we don't yet see an agreement, and now the pressure is on congress to produce. if they don't, what i've said is that in the senate we should go ahead and introduce legislation that would make sure middle class taxes stay where they are, and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it, they can vote no. >> brianna keilar, she's at the white house. brianna, they're saying they're going to come back to work in a couple of hours. a lot of people have been up a lot longer than that, up earlier, trying to figure out what's going on here. i understand you do have some news. potentially there's a new offer on the table. >> reporter: that's right. according to democratic sources, suzanne, they have gone up to $450,000 as the threshold for those income tax rates for where those bush-era tax cuts would expire. so beyond $450,000 for a family. this is somewhat significant because initially the pr
president obama says he is modestly optimistic that negotiations could prevent these huge tax hikes and spending cuts from kicking in. >> we don't yet see an agreement, and now the pressure is on congress to produce. if they don't, what i've said is that in the senate we should go ahead and introduce legislation that would make sure middle class taxes stay where they are, and there should be an up or down vote. everybody should have a right to vote on that. if republicans don't like it,...
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Dec 31, 2012
12/12
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i hope republicans will fight as hard on the debt ceiling as barack obama did on tax rate. uma: you call everything going on in washington right now dysfunctional. the american people are kwaeutinwaiting to see what is going to happen here. many people are frustrated and upset that once again we are at the 11th hour trying to get a deal done at a time when there was a lot of time before this to work something out. >> because the senate doesn't function any more. the house has passed three or four bills to avoid sequestration, to save the military from these cuts, to deal with the fiscal cliff. if you don't like the house's product bring it on the floor of the senate and let's change it. let's start being legislators instead of just a place where ideas go and die in the united states senate, it's embarrassing to me being the most deliberative body in the world and not be able to have a debate about how the fiscal cliff drama should end. we should have had the house bill on the floor months ago. harry reid blocks everything coming from the house, this place is completely dysf
i hope republicans will fight as hard on the debt ceiling as barack obama did on tax rate. uma: you call everything going on in washington right now dysfunctional. the american people are kwaeutinwaiting to see what is going to happen here. many people are frustrated and upset that once again we are at the 11th hour trying to get a deal done at a time when there was a lot of time before this to work something out. >> because the senate doesn't function any more. the house has passed three...
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Dec 31, 2012
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before and obama and boehner couldn't agree on. if that's now decided and they're talking about all the other stuff, that's a really good sign and substantial progress is being made and could be the reason for the president's optimism. >> this clock is ticking on the cliff and ticking on us, too. david, i have to leave it right there. david goodfriend and molly ball, good to see you both. and happy new year to you. >> thanks. >>> next, the latest on secretary hillary clinton's condition after she's hospitalized for a blood clot weeks after suffering a concussion. >>> also, regardless of what happens today in the negotiations, there's one thing for sure. this congress is going to go down as the least productive in modern times. those details just ahead. >>> you can join our conversation on twitter. [ fishing rod casting line, marching band playing ] [ male announcer ] the rhythm of life. [ whistle blowing ] where do you hear that beat? campbell's healthy request soup lets you hear it... in your heart. [ basketball bouncing ] heart h
before and obama and boehner couldn't agree on. if that's now decided and they're talking about all the other stuff, that's a really good sign and substantial progress is being made and could be the reason for the president's optimism. >> this clock is ticking on the cliff and ticking on us, too. david, i have to leave it right there. david goodfriend and molly ball, good to see you both. and happy new year to you. >> thanks. >>> next, the latest on secretary hillary...
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Dec 31, 2012
12/12
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WRC
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the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> if a deal is not reached by midnight tonight, taxes go up for nine out of ten americans and 2 million people without jobs will not get unemployment insurance starting tomorrow. sharp cuts in defense spending and programs will kick in onnian 2nd. >>> even if lawmakers cannot strike a deal, there will not be panic in the dairy aisle. there is a deal in place to make sure that milk prices do not skyrocket. cnbc's hampton pearson is live with more. >> how are you doing, erika. picking up on what you were talking about, congress may be having trouble avoiding the fiscal cliff. but they might be able to skirt the dairy cliff. the u.s. farm bill could keep milk prices from surging next year. it would keep a subsidy from coming back to life when the current farm bill expires today. under a 1949 law, the usda would be forced to buy milk at prices well above what farmers are getting now as the subsidies provide. that could push prices up to twice the national average
the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> if a deal is not reached by midnight tonight, taxes go up for nine out of ten americans and 2 million people without jobs will not get unemployment insurance starting tomorrow. sharp cuts in defense spending and programs will kick in onnian 2nd. >>> even if lawmakers cannot strike a deal, there will not be panic in the dairy aisle. there is a deal in...
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Dec 31, 2012
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unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the cliff may not look great but the dow is up for the time being. we have fox coverage with wendell at the white house. but, first, mike is live on capitol hill. the senate leader is the -- actually, the minority leader, what is he telling colleagues? >>reporter: he said they are very, very close. he would like to take action to avoid having americans suffer a huge tax increase in a matter of ten hours. there are a lot of anxious senators walking around wondering if or when they will get a chance to vo
unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace:...
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Jan 1, 2013
01/13
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now, president obama and the senate republican leaders say they are close to a deal to prevent tax hikes on the middle class. the trouble is, the house has gone home and won't be voting on anything tonight. >> for now, our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> we all want to protect taxpayers, and we can get it done now. right now. >> trace: officials tell fox news agreement would let tax cuts expire on $450,000 instead of the president's cut off $250,000. extend unemployment benefits for another year it does not include any new spending cuts. of course, that's the other big issue in this fiscal cliff standoff. we have team fox coverage. mike emanuel is live on capitol hill. but first to ed henry at the white house. ed, it looks as if we are taking the plunge. >> it does, trace. but what i think the white house is hoping here tonight is that lawmakers are going to have some framework by midnight tonight that basically says votes as soon as tomorrow or maybe even in early wee
now, president obama and the senate republican leaders say they are close to a deal to prevent tax hikes on the middle class. the trouble is, the house has gone home and won't be voting on anything tonight. >> for now, our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> we all want to protect taxpayers, and we can get it done now. right now. >> trace: officials tell fox news...
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Jan 1, 2013
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so i think their theory is, we pushed, obama bent, let's ping-pong the bill back and let's see if they bend a little more. i think what that misses is an immense pressure, not democrats and republicans on the left that won't let them play ping-pong with the bill. >> can the democrats accept the little ping-pong right now in the next 24 hours? let's say the house passes the senate version with one amendment that calls for specific additional spending cuts and it goes to the senate, be do you think that's doable? >> it depends on what those spending cuts are and i think that the leaders in the senate will look at it because i think the american people do deserve for leaders to be responsible and here's where i think the republicans are really going wrong on two front. this is so politically perilous for them. they lost the election in november because the american people didn't think that republicans understood what they are going through and if they are now the ones who are the architects of all of us going over the cliff and for millions of americans taxes to go up, that's going to be
so i think their theory is, we pushed, obama bent, let's ping-pong the bill back and let's see if they bend a little more. i think what that misses is an immense pressure, not democrats and republicans on the left that won't let them play ping-pong with the bill. >> can the democrats accept the little ping-pong right now in the next 24 hours? let's say the house passes the senate version with one amendment that calls for specific additional spending cuts and it goes to the senate, be do...
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Dec 31, 2012
12/12
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social security taxes going up tomorrow. obama care taxes going up tomorrow. if you get a bounce to the market, will it last? >> i don't think it will. i think it will be very short lived. i think people will come in and sell the bounce, stuart. then they will look at the details and the details won't look good and this market may take a very big hit because of that. it will be short lived as far as i'm concerned. stuart: i'm picking up on very big hit, key words. what do you mean by that, larry levin? >> the market could -- we saw the market overnight in the s&ps trade down to 1380. i think 1350 is the next spot after that. that's another 50 points below where we're trading in the s&ps alone stuart. that's the kind of big hit i'm talking about. stuart: that would be a big hit. larry levin, thank you very much. happy new year to you. >> happy new year to you. stuart: let's bring in the author of how rich people think. steve, the rich voted not in overwhelming numbers but they certainly gave many of their votes to president obama in the last election. now, the
social security taxes going up tomorrow. obama care taxes going up tomorrow. if you get a bounce to the market, will it last? >> i don't think it will. i think it will be very short lived. i think people will come in and sell the bounce, stuart. then they will look at the details and the details won't look good and this market may take a very big hit because of that. it will be short lived as far as i'm concerned. stuart: i'm picking up on very big hit, key words. what do you mean by...